Spinal disorder treatment developer SeaSpine Holdings (NSDQ:SPNE) announced that it commenced an underwritten public offering of shares of its common stock.
The Carlsbad, Calif.–based company plans to use the proceeds from the offering for working capital and other general corporate purposes. All shares in the offering are slated to be sold by SeaSpine.
Piper Sandler and Canaccord Genuity are acting as joint book-running managers in the offering, while SunTrust Robinson Humphrey is acting as lead manager. BTIG and Ladenburg Thalmann are acting as co-managers. Underwriters are set to be granted a 30-day option to purchase up to an additional 15% of shares of common stock.
SeaSpine is a medtech company that develops surgical solutions for patients with spinal disorders. The company’s portfolio includes orthobiologics and spinal implants for fusion procedures on the lumbar, thoracic and cervical spine, according to a news release.
Shares of SPNE are currently trading at $15.02 per share at midday.